ABB, Ltd. (Switzerland) and General Electric (U.S.) are the Leading Players in the Arc Flash Protection Market
The global arc flash protection market is projected to grow at a CAGR of 5.38% by value from 2017 to 2022. The market in North America is estimated to be the largest market for arc flash protection system and equipment, followed by the market in Europe. This trend is expected to continue till 2022. The growth of the arc flash protection market is driven by increasing investments in electrical networks and growth of the manufacturing sector in South-East Asia.
The arc flash protection market is dominated by a few global players. Key players operating in the market include ABB, Ltd. (Switzerland), General Electric (U.S.), Schneider Electric (France), Eaton Corporation (Ireland), Siemens AG (Germany), and Littelfuse, Inc. (U.S.) among others.
Major strategies adopted by players in the arc flash protection market include new product launches and mergers & acquisitions. New product launches was the most commonly adopted strategy from 2012 to June 2017. Industry players also adopted mergers & acquisitions, which was the second most widely followed strategy from 2012 to June 2017.
General Electric is one of the leading players that provides equipment and integrated system for preventing and mitigating arc flash events. The company offers independent arc flash monitoring and mitigation devices, capable of providing reliable and deterministic multi-stage detection, of any sudden arc flash occurrence. It offers multiple products and services such as ArcWatch, arc vault protection system, and arc flash hazard studies to limit the arc flash hazard exposure. The company adopted new product launches as one of its key growth strategy to maintain its market position. In October 2013, the company launched ArcWatch circuit breaker communication technology.
ABB, Ltd. is a technological leader in the electrical products industry. The company has strong product offering, catering to low, medium, and high voltage ranges. It designs and manufactures products and solutions for various industries to provide safety and to reduce associated arc flash hazards. It offers arc fault protection solutions for both arc fault detection and elimination, in order to reduce arc flash events, equipment damages, and long outages. The company has a balanced regional footprint in production and R&D and has presence in over 100 countries. The company adopted new product launches as its key strategy to strengthen its solutions and systems for arc flash protection and mitigation. In the fiscal year 2017, ABB plans to invest USD 60 million in the U.S. towards research, development, and operations. The company will expand its low voltage portfolio in the region, thus, enabling it to meet the rising demand from the U.S. market. Moreover, In April 2017, ABB, Ltd. introduced ArcLimiter to mitigate any low voltage and medium voltage arc flash hazard. The company also launched a plug-in communication module for its innovative TVOC-2 Arc Guard system in 2016.
Related Reports:
Arc Flash Protection Market by Equipment (Arc Flash Detection & Control System, Personal Protective Equipment), End-User (Utilities, Manufacturing & Processing, Oil & Gas, Transportation & Infrastructure), and Region - Global Forecast to 2022
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